COST AND FINANCING. AFD co-financing of Phase 1 amounts to 51 million Euros, i.e. 50% of the Phase 1 total amount.
COST AND FINANCING. The overall amount of the program is 265.2 MEUR, co-financed one third by the World Bank (88,4M EUR) and two thirds by AFD (176.8 MEUR). The first objective of the project is to improve the quality of life of the 7 million residents of Serbia, specifically targeting the poorest local communities vulnerable to climate change. In doing so, the project will contribute to the reduction of social and geographical inequalities and improve access to markets, employment and basic services. It includes specific actions to improve women’s mobility situation. The project will also contribute to a low-carbon development path, through a rebalancing of public space sharing in favour of active modes (pedestrians, bicycles – little or no emitters) and the promotion of low-carbon mobility planning (development of Sustainable Urban Mobility Plans). It will also contribute to the resilience of territories to climate change, by taking into account, in the design and implementation of projects, the projected evolution of climate conditions, in particular the increase in flood and the extreme heat episodes. Finally, the program will improve the performance and efficiency of LSGs, with better planning of investment, operation and maintenance costs. It thus aims for a transformational impact on the public policy framework, i.e. the planning, implementation and management of the investments made by the LSGs, following an integrated approach.